52-1205 Lien satisfied; termination statement; procedure. - Nebraska Statutes

52-1205. Lien satisfied; termination statement; procedure.(1) When a lien created under section 52-1201 is satisfied, the lienholder shall file in the office where the lien is filed a termination statement to the effect that he or she no longer claims an interest under the lien, which shall be identified by file number. A termination statement signed by a person other than the lienholder of record shall be accompanied by a separate written statement of assignment signed by the lienholder of record complying with subsection (b) of section 9-514, Uniform Commercial Code, including payment of the required fee, or reflect that the person signing the termination statement is a successor of the lienholder of record. If the affected lienholder fails to file such a termination statement within thirty days after such lienholder no longer claims an interest, he or she shall be liable to the person to whom the seed or electrical power or energy was furnished for any losses caused to such person by such failure and for reasonable attorney's fees and court costs.(2) On presentation to the filing officer of such a termination statement, he or she shall note it in the index. If the filing officer has received the termination statement in duplicate, he or she shall return one copy of the termination statement to the lienholder stamped to show the time of receipt.(3) There is no fee for the filing of a termination statement.(4) This section does not apply to a lien created under section 52-1201 filed as an agricultural lien under article 9, Uniform Commercial Code, on or after July 1, 2001. SourceLaws 1988, LB 943, § 12; Laws 1999, LB 550, § 31; Laws 2001, LB 54, § 22.